Motorsport Accountant Harris & Co

30/10/2026

Government issues consultation on employment status reform
Last week, the government issued a consultation on targeted reforms to the employment status framework for employment rights as part of the ‘Plan to Make Work Pay’.

Proposals of note included placing less emphasis on personal service when determining worker status and instead focusing more on factors like control. The intention here is to avoid ‘substitution clauses’ in contracts which don’t necessarily reflect the reality. In addition, the consultation suggests improving compliance by including a ‘presumption of worker status’; the burden of proof of status will be shifted to the employer.

The consultation focuses solely on employment rights and any changes made as a result will not necessarily impact IR35 or off-payrolling status for tax purposes. Some commenters consider this to be a missed opportunity: IPSE’s Head of Policy and Research, Josh Toovey, said:

‘Tax and employment rights are two sides of the same coin. Yet we continue to have separate systems, creating confusion for individuals and businesses and leaving the door open to inconsistent outcomes. This consultation was an opportunity to take a more joined-up approach and start addressing that problem.’

The consultation closes on 8 January 2027.

29/10/2026

Buried in the detail in yesterday's Budget was this gem:

From April 2029, taxpayers who already make Payments on Account will make smaller, more regular contributions towards their tax bill throughout the year.

That will hit the cash flow of an awful lot of self employed people.

28/10/2026

Tax policy is 'damaging to growth and competitiveness'
Daniel Herring, head of economic and fiscal policy at the Centre for Policy Studies, argues that although the Government has ruled out raising capital gains tax in the Budget, Labour’s wider tax policies remain damaging to economic growth and business competitiveness. He warns that higher capital gains tax could reduce revenue by discouraging asset sales and investment.

23/10/2026

Government backs down on plans to require smallest businesses to file profit and loss accounts, and balance sheets at Companies House

The decision to ‘pause’ the controversial new reporting requirement was dropped ahead of the Budget as the prime minister Andy Burnham met with small business leaders in the new No10 North.

The planned start date of April 2028 has now been abandoned, with the government saying the accounting changes are now on pause. This is the second time the measure has been delayed.

This means that small and micro businesses will no longer be required to file profit and loss (P&L) accounts with balance sheet information, which was due to be mandatory from 1 April 2028.

23/10/2026

Latest labour market data shows downturn in hiring
The latest statistics on the labour market released by the Office for National Statistics (ONS) show a decrease of 21,000 in the number of vacancies compared to the previous quarter. The decrease is mostly attributed to smaller firms who suggest increased labour costs have slowed recruitment.

In addition, the estimate for payrolled employees in the UK fell by 111,000 (0.4%) between August 2025 and August 2026. Commenting on the data, Alex Hall-Chen, Principal Policy Advisor for Employment at the Institute of Directors said:

‘Demand for labour has been undermined by a succession of employment policies which have increased the cost and risk of hiring staff. The labour market is unlikely to strengthen until the Government tackles this cost of employment crisis.’

UK unemployment was estimated at 4.7% for June to August 2026, down 0.1% on the year and the last quarter. Unemployment for those aged 16 to 24 was 15.6% for the three-month period, down from 16.4% in the previous three months but higher than the rate seen in the equivalent period last year (14.6%). Youth unemployment remains a government focus with Work and Pensions Secretary Pat McFadden commenting on the release of the Industrial Strategy Jobs Plans:

‘Too many young people have been locked out of opportunities for too long.’

Other data released showed annual growth in average regular earnings (excluding bonuses) was 3.7% in June to August 2026 and had been relatively stable. Adjusted for inflation, annual growth in real terms was 0.8%.

21/10/2026

Healey mulls tax hit on family businesses
The Chancellor is weighing plans to charge income tax when owners pass businesses to the next generation, potentially almost doubling their tax bills. Such transfers can currently be arranged to incur lower-rate capital gains tax. The proposals would affect entrepreneurs planning retirement and aim to raise hundreds of millions beyond Labour’s earlier inheritance tax changes for family businesses, which are expected to bring in £300m annually for the public finances.

20/10/2026

A little perspective on the roads on the Tour de Corse Historique and the Harris & Co Vauxhall Chevette

16/10/2026

12/10/2026

🏆 CLASS WINNERS – TOUR DE CORSE HISTORIQUE 2026! 🏁🇫🇷

45 years of motorsport passion. Specialist accountants to the motorsport industry. And still competing at the sharp end!

We are delighted to celebrate another international motorsport success for Harris & Co, following a class victory in the 2026 Tour de Corse Historique in our Harris & Co-backed Vauxhall Chevette HSR.

Widely regarded as one of the world's great historic rallying events, the Tour de Corse Historique is a formidable test of driver, co-driver and machinery, tackling the spectacular but unforgiving mountain roads of Corsica.

With only 50% of cars making it to the finish, simply completing this demanding event is an achievement in itself. To come away with a class win makes it particularly special!

This latest success adds to our previous award-winning performances on this internationally renowned event in two other iconic rally cars — our 1963 Morris Mini Cooper and 1971 Ford Es**rt RS2000.

🏎️ Motorsport isn't just something we sponsor. It's part of our DNA.

At Harris & Co Chartered Accountants, we have been actively involved in motorsport for over 45 years. That experience gives us something rather different from most accountancy practices: a genuine, first-hand understanding of the industry, its commercial challenges and the passion that drives the people working within it.

From racing teams and specialist engineering businesses to competitors and companies supporting the motorsport industry, we combine professional accountancy, audit, taxation and business advisory expertise with decades of practical motorsport experience.

We understand motorsport because we're part of it.

And while winning trophies is immensely satisfying, we're equally proud of helping businesses in this exciting industry achieve their own success.

🏆 Harris & Co – Driven by passion. Backed by experience.

🌐 www.harrisandco.biz